This month, we examine several recent case decisions, starting with a challenge to the validity of the loan charge legislation (the ‘no score draw’ in Labeikis). There have been two recent tribunal decisions on entrepreneurs’ relief: Thomson (in which relief was available for a disposal that was found to be part of the wider business asset sale) and Allam (with insight on the test for trading activities). HMRC has also been defeated on deductibility of expenses for legal fees (Rogers) and penalties where the taxpayer had relied on the advice of her tax return preparer (Quinn).
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
This month, we examine several recent case decisions, starting with a challenge to the validity of the loan charge legislation (the ‘no score draw’ in Labeikis). There have been two recent tribunal decisions on entrepreneurs’ relief: Thomson (in which relief was available for a disposal that was found to be part of the wider business asset sale) and Allam (with insight on the test for trading activities). HMRC has also been defeated on deductibility of expenses for legal fees (Rogers) and penalties where the taxpayer had relied on the advice of her tax return preparer (Quinn).
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
